Friday, August 14, 2020

Beyond Meat Competitor Impossible Foods Raises $200 Million Series G Round

Raising the question: "How deep into the alphabet can they go?"
(I think the last SpaceX financing was a 'Series R')

From AgFunder:

Coatue leads $200m Impossible Foods round; Temasek, Mirae Asset re-up
Impossible Foods has raised an additional $200 million in Series G funding, with new investor Coatue Management leading the round.

Coatue was joined by fellow New York-based hedge fund XN, which has secured $1 billion in committed capital for its maiden vehicle, while South Korea’s Mirae Asset — which had led Impossible Foods’ $500 million Series F round in March — also participated.

Singapore sovereign fund Temasek, an existing investor, completed the line-up. The company did not share any valuation figures, but confirmed it has raised close to $1.5 billion in total funding since it launched in 2011.

As for how it plans to deploy the capital, Impossible Foods said much the same as it did for its Series F. It’ll use the funds for research and development, product development and commercialization, and to further upscale its manufacturing capacity, the company said in a statement.

Given the smaller size of this round compared to the previous two, some observers may surmise that Impossible Foods is beginning to run out of steam. But by bringing yet another big-name backer on board in Coatue — and with both Mirae Asset and Temasek upping their skin in the game — the plant-based protein maker still has plenty to be happy about....
....MUCH MORE